Laos recorded a trade surplus of USD 48 million in February, making for a better start to the year.
China Lilang Announces 2022 Annual Results
Total Dividend for the year at HK32 Cents Per Share
HONG KONG SAR – Media OutReach – 17 March 2023 – China Lilang Limited (“China Lilang” or the “Company”, together with its subsidiaries the “Group”; stock code: 1234) has today announced its 2022 annual results.
Mr. Wang Dong Xing, Chairman and Executive Director of China Lilang, said,
“In 2022, lockdowns and control measures were imposed one after another to address the fluctuating coronavirus pandemic, slowing down economic development and, at the same time, dampening consumer sentiment as in-store shopping and social activities were refrained, of which the apparel industry bore the brunt with negative growth recorded in retail sales of apparel for the year. Operating in such a challenging business environment, the Group actively responded to the changing market by continuously facilitating new retail business, promoting sales and driving store efficiency.”
In 2022, the Group’s revenue decreased by 8.7% year-on-year to RMB3,086 million. Net profit decreased by 4.3% year-on-year to RMB448 million, mainly due to the decrease in overall revenue as the Pandemic weighed heavily on the offline retail business, with certain stores being temporarily suspended due to the pandemic prevention and control measures, and rebates provided to distributors by the Group during the year. The gross profit margin was 46.0%, representing an increase of 4.1 percentage points year-on-year, which was primarily attributable to the inventory provision of RMB120 million recorded in 2021 and the writeback of inventory provision of RMB22.26 million during the year. Earnings per share were RMB37.42 cents, down by 4.3%.
During the year, the Group maintained a healthy financial position with sufficient cash flow. The Board of Directors recommended payment of a final dividend of HK9 cents per share and a special final dividend of HK5 cents per share, together with the interim dividend already distributed, the total dividend for the year amounted to HK32 cents per share, maintaining a stable payout ratio.
The Group actively develop the business in WeChat Mall during the year to take advantage of the interactive features of the social platform and capitalise on the complementary advantages of online and offline services, thus driving store efficiency growth. The Group gradually transformed its online sales service from a channel for off-season inventory clearance to a platform mainly for advertising its brand image, and promoted sales through sales promotion, e-commerce live streaming and other campaigns, such as the launch of pants hot products on e-commerce platforms during the 618 E-Commerce Shopping Festival and the premier launch of quality and hot items, hydrophobic downs, online prior to the Double 11 Shopping Festival. Although retail sales decreased by 0.4% under a stagnant market, a significant increase in gross profit was recorded mainly due to higher unit price of new product sales and sales proportion of new products increased. The new retail business started generating net profit.
However, physical stores’ sales were strongly affected by the Pandemic, the Group decisively closed certain underperforming stores and slowed down its plan to open new stores, thus falling short of the target of maintaining the same number of stores throughout the year as the beginning of the year. As of the end of the previous year, the Group had 2,644 stores, representing a decrease of 89 stores as compared to the end of 2021. The Group further optimised its nationwide sales network by relocating approximately 50 stores to premium locations of first- and second-tier cities, so as to enhance store efficiency and utilisation of store space.
Thus far, nearly 40% of core collection stores are operating under the consignment model. During the year, the Group continued to consolidate and develop its nationwide sales network through long-term partnership with distributors, in order to reach more consumers across China. At the same time, the Group pragmatically supported distributors in optimizing the retail network by opening stores in carefully selected quality shopping malls and prime shop locations. The Group also promoted increased usage of the WeChat platform in physical stores to achieve higher store efficiency. On the other hand, smart casual collection stores and online stores were converted to direct-to-retail mode in 2020 and 2021, respectively. By the end of 2022, the Group had a total of 251 smart casual collection stores, and other stores were operated the other stores were operated by distributors or sub-distributors respectively.
With respect to inventory management, despite weaker sales caused by the volatile Pandemic situation, the effort put into inventory clearance by the Group was effective, and the inventory balance during the year approximated that of last year.
On the brand promotion front, the Group has been on the forefront of the apparel industry by promoting its key products with the newly-created virtual ambassador, Li Li, so as to show China Lilang’s brand concepts with simple menswear and attract young consumers’ attention. Moreover, the Group continued to work with its brand ambassador, Han Han, by being the official menswear partner for his new film “Only Fools Rush In” and launching co-branding products with him and the Chinese National Geography magazine. China Lilang has also co-partnered with artist Cao Yu (Leo), and LESS IS MORE has formed a co-branding partnership with the science fiction, The Three-Body Universe, for its shop image.
Looking ahead to 2023, the Pandemic situation has gradually stabilised, foot traffic has increased significantly, and social and economic activities are picking up. Besides, multiple provinces and cities have introduced intensive policies to promote consumption, providing strong support to boost market confidence and consumption levels. The Group maintains a wait-and-see attitude towards the retail market in the first half of next year, but adopts a cautiously optimistic outlook on the full year.
China Lilang will adopt a prudent store opening approach to improve its sales network. The Group is aiming for a net increase of approximately 100 stores in the next year, and plans to continue to open stores in quality shopping malls in provincial capitals and prefecture level cities. The Group will also open more stores at outlet malls and use them as the default channel for inventory clearance. The Group aims to grow its total retail sales for the year 2023 by 10% or more.
The Group will step up efforts to promote its new retail business, cultivate the business model of selling at online stores and delivery to offline stores, and introduce better services, to provide more convenient and satisfactory shopping experiences to customers. Instead of being just a channel of the Group for inventory clearance, online stores will also become an important tool for the Group to launch new products. It is expected that in 2023, proportion of new products sold from e-commerce will further increase. Together with precise online promotions, the Group will drive traffic and cultivate customer loyalty, and thereby promote growth in online sales, striving to achieve significant growth in sales from e-commerce business during the year.
Chairman Wang Dong Xing concluded:
“The Pandemic has accelerated the market consolidation of the retail sector and realised the principle of the survival of the fittest. As a capable menswear enterprise, China Lilang will continue to adhere to its strategy of providing products that offer excellent value for money in the following year in a bid to strengthen its product competitiveness. The efforts made during the past few years enabled the Group to build internally a strong supply chain and inventory management capabilities and to add externally channels of consignment model, retail and e-commerce along with the original distributor model. All of the new channels have been on the right track and recorded profits. In the long run, the Group determines to further consolidate its leading position in China’s menswear industry and realise sustainable long-term growth, which in turn will enable it to reward shareholders, staff members and customers for their support.”
Hashtag: #ChinaLilang
The issuer is solely responsible for the content of this announcement.
About China Lilang
China Lilang is one of the leading PRC menswear enterprises. As an integrated fashion enterprise, the Group designs, sources and manufactures high-quality business and casual apparel for men and sells under the LILANZ brand across an extensive distribution network, covering 31 provinces, autonomous regions and municipalities in the PRC.
Lao-American Footballer Michael Vang to Represent Laos in Three Nations Cup
Michael Vang, an American football (soccer) player of Hmong descent, will play for his homeland in the Three Nations Cup in Nepal this month.
The First Master of Chiropractic Programme in Hong Kong is Now Available

In March this year, McTimoney College of Chiropractic, a UK-based chiropractic college with 50 years of quality teaching experience, will collaborate with Universal College of Higher Education to offer a four-year Master of Chiropractic programme in Hong Kong. The programme integrates academic, practical and clinical components to nurture chiropractors in a holistic manner.
Growing Demand for Chiropractic Care
According to the Chiropractors Council, there are only about 300 registered chiropractors in Hong Kong, including those who do not practise in Hong Kong. 2021 Hong Kong Chiropractic Survey: Analysis of the Data points out that the average number of patients treated by Hong Kong chiropractors is higher than that of practising overseas, indicating that there is a great demand for chiropractors in Hong Kong and an increasing demand for chiropractic care.
International and Local Recognition of Chiropractic Qualifications
The World Health Organisation (WHO) officially endorsed the World Federation of Chiropractic (WFC) in 1997 and published the “Guidelines on Chiropractic Training and Safety” in 2005, recognising the effectiveness and professionalism of chiropractors. In 1993, the Hong Kong Chiropractors Council was established. Chiropractors registered in Hong Kong are recognised and regulated by the laws of Hong Kong as medical professionals.
In addition to being a recognised training centre, McTimoney College of Chiropractic also runs a chiropractic clinic open to the public and receives local patients. This arrangement gives students the opportunity to work on real cases and even treat patients under the supervision of their professors to gain extensive clinical experience.
Entry Requirements
- 18 years old or above
Academic Requirement
- HKDSE
- Minimum of Level 4 in 3 subjects
- To include 2 science subjects: Biology plus any other science including Chemistry, Psychology, Physical Education, Mathematics of Physics, or equivalent
OR
- Diploma from recognized post-secondary institution
- We accept a range of related pathways including Diploma of Human Health Sciences, Diploma of Science, Diploma of Medicine or Diploma of Nursing, or equivalent.
OR
Successful completed in UCHE Foundation Programme in Health
English Language Requirement
- IELTS 6.0(minimum of 5.5 in each band)
Or
- HKDSE English Language Level 4, or equivalent
Hashtag: #McTimoneyCollegeofChiropractic #UlsterUniversity
The issuer is solely responsible for the content of this announcement.
BCEL Ramps Ups Security Following ATM Skimming Scare
Banque Pour Le Commerce Exterieur Lao Public (BCEL) has advised chip cardholders to update their passwords to avoid ATM skimming which is now quite prevalent in Laos.
Bybit Reports Surge in Trading Volume Amidst USDC Volatility
- Bybit’s spot market volume for USDC grows by 1,437%
- Bybit becomes No.2 crypto exchange in MENA
DUBAI, UNITED ARAB EMIRATES – Media OutReach – 17 March 2023 – Bybit reports a surge in volume for USDC pairs as the world’s third most visited crypto exchange ramps up efforts to meet market demands. Relying on trusted platforms to navigate the recent crypto and banking volatility, customers are turning to Bybit for its rock-solid security and market depth.
Bybit’s spot market volume for USDC grew 1,437%, with USDC contribution to the total spot trading volume rising from 8% to 40%. Bybit’s perpetual market saw the daily trading volume of the USDC/USDT pair exceeding $380 million, and the annualized funding rate reaching as high as 740%.
Bybit’s success is a testament to its rapidly expanding user base, and the trust traders, institutions, and investors put in the platform. Bybit’s battle-tested trading engine, proof of reserves, and sound risk management have seen the crypto exchange grow its market share throughout 2022 despite challenges — a trend that continues in 2023.
To optimize the trading experience and flexibility in portfolio management, Bybit is now offering zero fees on its options contracts and zero fees on all USDC Spot pairs and major stablecoin pairs such as USDC/USDT, BUSD/USDT, DAI/USDT, and WBTC/BTC.
While long-term issues affect the legacy financial system, the crypto exchange has been offering new alternatives from the world of Web3 including Bybit Wallet, which allows users to access decentralized finance apps while keeping their funds safe in custody. The newly launched Bybit Card, a debit card powered by the Mastercard network, allows users to off-ramp crypto into fiat to easily make purchases or take out cash from ATMs. The digital card is already available with preorders for the physical card commencing March 17.
Bybit has also announced the plan for a new headquarters in Dubai in spring 2023. With more than 400 crypto and blockchain businesses operating in the Middle East’s burgeoning digital assets hub, Bybit has taken the No.2 spot among exchanges in the region. In just under a year, Bybit has generated $33.5b in trading volume across the Middle East and North Africa and is on track to double that figure in 2023.
“One thing we do well at Bybit is to Listen, Care and Improve. It is our job to be there for our customers when they need us the most. And we are able to support the surge in volumes in volatile markets because of years of building on platform integrity, fund safety, security, product integrations and risk management. We are determined to empower our customers with next-level products such as AI trading bots, easy fiat conversions, and proof of reserves,” said Ben Zhou, co-founder and CEO of Bybit. “Bybit is the choice of reliability and transparency in times of high volatility, and these are qualities that will steer Bybit towards its goal of becoming the go-to ‘Crypto Ark’ for investors worldwide,” he said.
Hashtag: #Bybit #TheCryptoArk
The issuer is solely responsible for the content of this announcement.
About Bybit
Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.
For more information please visit: https://www.bybit.com/
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Bupa and Quality Healthcare Medical Services Sponsor Cathay/HSBC Hong Kong Sevens 2023
Bupa rolls out a “Healthy Cities Pop-up Truck” with a gigantic rugby ball, immersive digital games, and a free AI health check, to help Hongkongers discover healthier lifestyles and “Be the Best You”
HONG KONG SAR – Media OutReach – 17 March 2023 – Bupa Hong Kong and Quality HealthCare will sponsor the Cathay/HSBC Hong Kong Sevens for a second year in a row. As the Official Insurance and Healthcare Sponsor, Bupa continues its mission to build a healthier city for the broader Hong Kong community.

The sponsorship aligns with Bupa’s Healthy Cities initiative, which promotes healthy lifestyles and programmes that encourage positive environmental impacts. The initiative builds on Bupa’s belief that people’s health and wellbeing are interconnected and affected by the health of our planet.
In addition to the Cathay/HSBC Hong Kong Sevens sponsorship, Bupa will launch the “Healthy Cities Pop-up Truck”, which will tour around the City from 17 March to 2 April 2023 – providing people with an opportunity to learn about healthy living and the importance of physical and mental wellness through an immersive gaming and digital experience.
The pop-up truck will feature a gigantic rugby ball, two interactive digital games, and a free health check station using the latest AI technology. In addition, fans of the tournament will have the opportunity to test their rugby knowledge and experience the energy of the sport through digital gamification.
Andrew Merrilees, Managing Director, Bupa Hong Kong, said: “At Bupa, we believe the concept of Healthy Cities represents an integrated approach that looks after the health of people, communities, and the planet we share. Through the Hong Kong Sevens sponsorship, we have an opportunity to raise the awareness of how to live a healthy lifestyle in the City of Hong Kong, whilst looking after the world in which we depend on.”
Through the theme “Be the Best You”, Bupa has prioritised physical health and mental wellness, as well as playing a bigger part in planetary health. Selfcare and awareness is the first step to managing and understanding one’s health, this is why Bupa has partnered with PanopticAI to provide free health checks for the broader community via the pop-up event.
By scanning the face, participants will be able to get an assessment of their health index, stress level, skin texture and other vital signs in just 30-seconds. After completing activities on the truck, participants will receive gifts, such as OATLY Oat Drink or a rugby-shaped stress ball.
Andrew Merrilees added: “The Hong Kong Sevens sponsorship is part of Bupa’s Healthy Cities initiative that can help people connect personal and planetary health and ultimately become the best version of themselves. Bupa will continue to work with partners and create programmes to build a healthier city and future for all.”
Look for Bupa’s Healthy Cities Pop-up Truck around the City from today and join in the excitement during the Cathay/HSBC Hong Kong Sevens weekend!
Bupa’s Healthy Cities Pop-up Truck Schedule:
Date: From 17th March 2023 to 2nd April 2023
Time: Every day from 12noon to 6pm
Locations (Subject to the latest road and traffic conditions. Please check out Bupa Hong Kong’s Facebook page here for the most updated information.):
Date | Location |
17 Mar (Fri) | Tsun Yip Street, Kwun Tong |
18 Mar (Sat) | Pai Tau Village, Sha Tin |
19 Mar (Sun) | Mody Road, Tsim Sha Tsui (K11) |
20 Mar (Mon) | Lam Fung Street, Kowloon Bay |
21 Mar (Tue) | Hoi Wan Street/Hoi Kwong Street, Taikoo Place |
22 Mar (Wed) | KOLOUR‧Tsuen Wan |
23 Mar (Thu) | Tai Nan West Street, Cheung Sha Wan |
24 Mar (Fri) | Causeway Bay Plaza I, Causeway Bay |
25 Mar (Sat) | Langham Place, Mong Kok |
26 Mar (Sun) | Uptown Plaza, Tai Po |
27 Mar (Mon) | Sai Ching Street, Yuen Long |
28 Mar (Tue) | Nam Ning Street, Aberdeen (Next to Aberdeen Centre) |
29 Mar (Wed) | Sai Yeung Choi Street South, Mong Kok |
30 Mar (Thu) | Hing Yip Street, Kwun Tong |
31 Mar (Fri) | Haiphong Road, Tsim Sha Tsui |
1 Apr (Sat) | Tuen Mun Town Plaza, Tuen Mun |
2 Apr (Sun) | Hennessy Road, Causeway Bay |
Hashtag: #Bupa
The issuer is solely responsible for the content of this announcement.
About Bupa insurance and health services in Hong Kong
Bupa’s purpose is helping people live longer, healthier, happier lives and making a better world.
We are an international healthcare company serving over 38 million customers worldwide. With no shareholders, we reinvest profits into providing more and better healthcare for the benefit of current and future customers.
In Hong Kong, we are known as the integrated healthcare specialist, offering one-stop solutions across domestic health insurance, international health insurance, as well as primary care services through Quality HealthCare Medical Services (QHMS).
Our expertise in healthcare insurance has gained the trust of more than 400,000 customers and 3,200 companies. We have provided quality health insurance for Hong Kong’s civil servants for more than 20 years.
Our healthcare provision arm, QHMS, became part of Bupa in October 2013. As one of the Hong Kong’s largest private clinic networks, we offer Western Medicine, Traditional Chinese Medicine, Diagnostics & Imaging, Dental, Physiotherapy, Mental Health and Wellness services through a network of over 1,400 provider service points in Hong Kong. We also operate a private nursing agency and Bupa medical centres and dental centres in Hong Kong. In 2022, we recorded over 2.2 million healthcare visits.
Adaptovate Listed in Financial Times and Statista High Growth Companies Asia-Pacific list for 2023
Building on their Fast-100 listing in Australian Financial Review 2022
SINGAPORE – Media OutReach – 17 March 2023 – On March 15th 2023, Adaptovate has been listed on the Financial Times and Statista High Growth Companies Asia Pacific list for 2023.

The 5th edition of the FT High-Growth Companies Asia-Pacific 2023 was released online on March 15th.
After an extensive research period, ADAPTOVATE earned a spot among the other Asia-Pacific Growth Champions and came in at number four of Management Consulting companies.
Alex Rebkowski, Managing Director, and Senior Partner says, “I am very humbled and proud for making this list. Massive thank you to the 100+ clients who have put their confidence in us so far and congratulations to all of the team who made this happen!”
The ranking is the result of a joint project by The Financial Times and Statista, which conducted months of research, public calls for participation, intensive database research and directly contacting tens of thousands of companies. In the end, we were able to identify outstanding companies among millions of Asia-Pacific enterprises.
Doug Ross, Senior Partner, and Managing Director at Adaptovate says, “This is a fantastic recognition for the wonderful efforts of our people, we have only just started, the best of what we can do for our clients in still coming, so very exciting times.”
“We have been privileged to have had the opportunity to work with a wide range of organisations within the region. At the same time, this was enabled by a group of extremely high performing, motivated and fun-loving individuals whom have made their mark with the teams that they work alongside with. This acknowledgement from Financial Times and Statista is a testament of the hard work and impact Adaptovate has had within the region, and I personally feel very honoured and humbled by this award,” says Charles Tan, Partner, and Managing Director, Adaptovate Singapore.
Hashtag: #adaptovate #businessagility #agile #agileconsulting
https://www.linkedin.com/company/adaptovate/
https://www.facebook.com/adaptovate/
https://www.instagram.com/adaptovate_global/
The issuer is solely responsible for the content of this announcement.
Adaptovate
Adaptovate is a management consulting company headquartered in Asia Pacific with ten global offices. We help organisations transform at scale and focus on improving their organizational agility to meet changing market conditions. Our team specialises in working with organisations across industries to improve business agility, emphasize customer centricity, and deliver tangible results. At Adaptovate, we are committed to helping our clients transform their businesses and embed sustainable ways of working for continued growth.

You can contact our Growth Partners for immediate discussion:
Cindy Gan – cindy.gan@adaptovate.com
David Gumley – david.gumley@adaptovate.com